Tourneau store near Trump Tower loses $2 million in sales

New York Post

8th January 2017

Donald Trump is no friend of troubled Tourneau. The Tourneau TimeMachine on 57th and Madison Avenue has lost about $2 million in sales because it is close to the Trump Tower and the traffic it is creating on 57th and 5th, a source close to the company said. Tourneau’s flagship store generates about $40 million in annual revenue, the source said, but timing couldn’t be worse.

Tourneau is trying to sell itself to a buyer who would likely acquire the watchmaker in a bankruptcy, the source said. Real estate location aside, the company is having bigger problems from watch sales falling sharply in recent years, but the election is not helping matters. A Tourneau spokesman declined comment about the flagship store or the sale process.